Company Registration No. 08928871 (England and Wales)
SKILTON SKIPS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
PAGES FOR FILING WITH REGISTRAR
SKILTON SKIPS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
SKILTON SKIPS LIMITED (REGISTERED NUMBER: 08928871)
BALANCE SHEET
AS AT
31 MARCH 2018
31 March 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
53,894
61,225
Current assets
Debtors
4
1,076
589
Cash at bank and in hand
12,128
9,116
13,204
9,705
Creditors: amounts falling due within one year
5
(70,631)
(46,535)
Net current liabilities
(57,427)
(36,830)
Total assets less current liabilities
(3,533)
24,395
Creditors: amounts falling due after more than one year
6
(6,973)
(11,207)
Provisions for liabilities
(9,162)
(10,408)
Net (liabilities)/assets
(19,668)
2,780
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
(19,669)
2,779
Total equity
(19,668)
2,780
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
SKILTON SKIPS LIMITED (REGISTERED NUMBER: 08928871)
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2018
31 March 2018
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 21 December 2018 and are signed on its behalf by:
Mr V Penfold
Director
SKILTON SKIPS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
- 3 -
1
Accounting policies
Company information
Skilton Skips Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
3 Roberts Mews, Orpington, Kent, BR6 0JP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £
1
.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover
represents net invoiced sales of goods and services, excluding value added tax.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
10% on reducing balance
Computer equipment
33% on cost
Motor vehicles
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2017 - 2).
SKILTON SKIPS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
- 4 -
3
Tangible fixed assets
Plant and machinery
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2017 and 31 March 2018
53,063
836
22,635
76,534
Depreciation and impairment
At 1 April 2017
7,607
305
5,659
13,571
Depreciation charged in the year
4,546
279
4,244
9,069
At 31 March 2018
12,153
584
9,903
22,640
Carrying amount
At 31 March 2018
40,910
252
12,732
53,894
At 31 March 2017
43,789
460
16,976
61,225
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Other debtors
1,076
589
5
Creditors: amounts falling due within one year
2018
2017
£
£
Bank loans and overdrafts
751
751
Trade creditors
15,132
951
Other taxation and social security
5,715
2,709
Other creditors
49,033
42,124
70,631
46,535
6
Creditors: amounts falling due after more than one year
2018
2017
£
£
Other creditors
6,973
11,207
SKILTON SKIPS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
- 5 -
7
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary of £1 each
1
1
1
1
8
Related party transactions
Skilton Hire Limited
A company in which V Penfold is a director
As at the balance sheet date, Skilton Hire Limited owed £500 (2017 - nil) to the company, this balance is included within other debtors.
9
Ultimate controlling party
The ultimate controlling party is G Penfold, by virtue of their shareholdings.